Why Nordstrom Stock Popped Today
Nordstrom(JWN) The Motley Fool·2024-03-19 23:55Shares of Nordstrom (JWN 9.38%) climbed 9.4% on Tuesday amid reports that the department store chain is exploring options to go private.Reaching out to private equity firmsAccording to "people familiar with the matter" speaking with Reuters earlier today, Nordstrom's founding family has engaged investment banks Morgan Stanley and Centerview Partners to reach out to private equity firms to gauge their interest in a potential deal. The timing of the news is no coincidence; Nordstrom shares dropped hard earlie ...